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Deutsche Bank Accounting Head Probed Over EY Wirecard Audit

  • Loetscher had role in Wirecard audits while he worked at EY
  • Manager, three other EY staffers to appear before committee
EY said there is no evidence of any criminal action by its auditors.

EY said there is no evidence of any criminal action by its auditors.

Photographer: Jack Taylor/Getty Images

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Deutsche Bank AG’s top accounting executive, Andreas Loetscher, is being investigated over his role as the auditor of Wirecard AG while he was with his former firm, Ernst & Young, two people familiar with the matter said.

Germany’s accounting regulator, APAS, is looking at his role as part of a review of EY’s auditing, said the people, who declined to be identified because the information isn’t public. Loetscher and three EY auditors are scheduled to testify at a parliamentary committee Thursday about their work for Wirecard. They are expected to invoke legal privilege and not answer any questions about their accounting work.